The clock is ticking for Austrian Airlines to reduce personnel costs

Austrian Airlines (Vienna) is facing a deadline by its parent Lufthansa (Frankfurt) to reduce its personnel costs. Lufthansa has stated it will not inject anymore capital into AUA until the austerity program is installed. Discussions are currently underway with the various labor groups to cut salaries. Due to Lufthansa’s uncertainty for future support of the Austrian flag carrier, a possible bankruptcy or resale is becoming a possibility again.

Read the full story from the Austrian Independent: CLICK HERE

Copyright Photo: Rolf Wallner.

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